HAIKOU /China/, September 13. /TASS/. South China's Hainan Province has presented a new yuan-denominated government bonds to be issued on the stock exchange in Hong Kong. The Hainan Daily newspaper reported that the value of this package will amount to about 5 billion yuan (more than $695 million at the current exchange rate).
According to the newspaper, the presentation of securities for investors was successful. Thus, Hainan will soon realize the issue of public debt securities for the second time in this special administrative region. Their maturities are two, three and five years.
The issuer's meeting with potential bond buyers was attended by Chen Maobo, Financial Secretary of Hong Kong, Xu Zhengyu, Secretary for Financial Services and the Treasury of Hong Kong, Chen Weimin, acting president of the Hong Kong Monetary Authority, and representatives of Hainan's competent departments. The issuance aims to ensure sustainable socio-economic development, efficient utilization of ocean resources and biodiversity conservation.
Most of the investors who have shown interest in these bonds are businessmen from Asian and European countries. Li Lei, Deputy Director-General of Hainan's Finance Department, introduced them to the potential, prospects and successes in the progressive development of Hainan Free Trade Port. He also answered questions on international trade and economic cooperation.
Hainan's first bond issue in Hong Kong also worth 5 billion yuan ($679 million at the exchange rate at the time), was carried out in October 2022. The money raised then from the sale of the two-year bonds was used to finance projects aimed at responsible use of the world's ocean resources. The three-year and five-year securities are to fulfill the Sustainable Development Goals.